Fire sale for La Perla as bottom line collapses

La Perla has been bought by the investment house owned by entrepreneur Lars Windhorst

La Perla has been bought by the investment house owned by entrepreneur Lars Windhorst as losses at the luxury lingerie retailer continue to mount.

Windhorst’s firm, Sapinda Holdings, did not disclose how much it paid Italian entrepreneur Silvio Scaglia for La Perla.

According to its accounts, La Perla’s losses rose by 35 per cent to £103million in 2016.

The deal comes after talks between La Perla and Chinese conglomerate Fosun broke down over plans to move manufacturing to China.

Sapinda has pledged to keep La Perla’s manufacturing in Italy and Portugal. Windhorst, 41, said: ‘We are prepared to further invest, to improve the performance of the company and to continue implementing Silvio’s vision for La Perla.’

La Perla is best known for its lacy and silk underwear, with bras selling for up to £500.